GBPUSD LONGER TERM INDICATORS TURNING BULLISH

The British pound continues to recovery against the US greenback as the US dollar index remains under heavy selling pressure across. Longer-term indicators for the GBPUSD pair are now starting to turn bullish, with the RSI and MACD indicators starting to turn up on the weekly time frame after weeks of declines.

The GBPUSD pair is bullish while trading above the 1.2900 level, key resistance is now found at the 1.2958 and 1.3010 levels.

If the GBPUSD pair trades below the 1.2900 level, key intraday support is found at the 1.2844 and 1.2775 levels.